Author: Pranav Thakkar
May 11th, 2023
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Social Media is a broad term that encompasses interactions the online population has through social platforms, such as Facebook, Twitter, Instagram, etc. Social Media, in some form or fashion, has existed since the late 90s but it wasn’t until Myspace emerged in 2003 that it began to gain traction. And the rest is history, as they say.
According to SmartInsights, today there are 3.4 billion people who use the internet. 2.3 billion are active social media users, meaning approximately 67% of those who go online are engaging in social media somehow. The growth of social media usage is unprecedented. In only ten years the use of one or more social network has increased from 7% of the American population to 76%. For marketing purposes, the correct use of social media can give businesses access to more consumers than they have ever had before. But beyond the sheer volume of people businesses can market to, social media can give companies consumer insight that can be instrumental in building a lasting brand.
As the statistics above show, companies that use social media to promote their business will have an opportunity to tap into a large portion of the population. Posting regularly will remind customers of the services a company provides, making them more likely to return. Out of sight out of mind rings true with companies, especially in highly competitive markets.
Social media has classically been used to promote business but there is reason to believe that social media has many more advantages. Providing customer service, shopping, surveying customer experience and sales are all additional benefits of utilizing social media. Customers like to know that their companies are easily reachable, especially if they have an issue. Companies are expected to be reachable 24/7 and since most customers are already on social media daily, it is an easy communication channel for them to access.
More consumers are looking to buy from businesses that have personality or can at least give a reason why they provide the service or good that they do. Customers feels comfortable with a company when they can see they have a strong social media presence and that others have found great value in their goods or services.
On most social media sites, simply creating a page or an account is free. Really, there is no reason a business shouldn’t have a social media presence.
There are many advantages to using social media. Brand awareness might be the most important (and obvious) but there is much more information to be gained through social platforms. By gaining followers online, brands are more likely to generate loyalty from their customers. The Social Habit reported that 66% of Americans 18-24 are more loyal to brands that they follow on social media
Social Media is also an opportunity for businesses to gain valuable insight into who their customers are. By taking a close look at who is following your business you can see what they like, what they don’t like and how they feel about your brand. Tools like Hootsuite Insights provides real time data on a company’s web presence. Who is mentioning the company? How many times has it been mentioned? Where are these mentions happening? This data can be powerful.
Social media sites like Facebook and LinkedIn have learned what businesses need to advertise on their sites. LinkedIn allows companies to segment by location, company, job title, age and gender. Facebook also allows ads to be targeted by location, demographics, interests, behaviors and connections. All of this information can also be tracked and trended in real time.
Like, shares and follows will all effect how your website appears in search results. Social media alone can be powerful for directing customers to your website but it will also drive those who are searching through Google to your site. The higher the number of shares and likes a piece of content has, the higher it will appear in search results.
Like, shares and follows will all effect how your website appears in search results. Social media alone can be powerful for directing customers to your website but it will also drive those who are searching through Google to your site. The higher the number of shares and likes a piece of content has, the higher it will appear in search results.
Since so many businesses are on social media, it can be advantageous to follow competitors and gain key insights into their performance. How are they interacting with customers? What are consumers saying about their brands? What is working for them and what isn’t? All of this is invaluable when it comes to planning large-scale company strategy.
Advertising on social media should be an important factor to any digital media strategy .With all of the information that social media is able to gather on followers, advertisers are able to target to a very specific audience. Which pages do they like? What are the self-reported activities that they enjoy? All of this can make advertising on social media impactful to a businesses’ marketing strategy.
Facebook, Twitter and LinkedIn offer both behavioral and connection targeting. Behavioral targeting allows advertisers to reach people who have certain purchasing behavior or device usage. Connection targeting means advertisers can advertise differently depending on how people are connected to your page, app, group or event. All of this information helps the advertiser to know the intent of the consumer, making the advertisements more effective.
Another benefit of using social media ads is the data returned on how well the ad performed. Social media ads with report how many users take an action, such as buying an item or signing up for an event, based on the ad. This can be really helpful information when you are planning the budget for a digital strategy.
Without a doubt, social media has to be a part of any company’s digital strategy. Primarily, social media can be used to reach a large portion of the population but there are many other useful pieces of information that social media can provide. Information on competitors and how they interact with customers, who customers are and what they like are just a few examples of information that can be leveraged by companies to fold their digital strategy into their large business strategy.
Not able to figure out how you will build a social media strategy? How you are going to include social media in your digital strategy? Introduce yourself to Cibirix and we will resolve all your strategy related quires by balancing your digital marketing mix.
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Since founding Cibirix, Ashish has leveraged his marketing degree to lead the agency in crafting meaningful digital marketing experiences for clients. His results-driven approach is a unique mix of analytical thinking, crisp visual aesthetics and a desire to simplify frontends while developing robust architecture. With a passion for design, technology, & marketing, He leads each aspect of the agency’s business and oversees its talented team of digital professionals.
